Category Archives: Taxation

Causa razonable y buena fe las multas del IRS pueden ser disminuidas, perdonadas o renunciadas

Por Coleman Jackson, Abogado y CPA
Junio 27, 2018

Causa razonable y buena fe las multas del IRS pueden ser disminuidas, perdonadas o renunciadas

El Servicio de Impuestos Internos, (IRS por sus iniciales en ingles), está lleno de varios tipos de sanciones que el Servicio de Impuestos Internos está autorizado a evaluar y cobrar a los contribuyentes errantes, indiferentes, negligentes, ambivalentes e indecisos o que incumplan con la ley que no recaudan o pagan sus impuestos o intentan evadir las leyes fiscales federales. Seis sanciones del IRS que parecen ser comunes en los años recientes son los que siguen:

Código Sec. 6672 Multas:  Penalidades que se imponen cuando los contribuyentes no recaudan a tiempo, entregan impuestos retenidos o evitan el pago puntual de sus obligaciones tributarias.

Código Sec. 6701 Multas: Multas impuestas a los preparadores de declaraciones de impuestos, tales como agentes inscriptos, contadores públicos certificados u otras personas que trabajan en la industria de servicios de preparación de declaraciones de impuestos que ayuda e incita a los contribuyentes a presentar declaraciones de impuestos falsos o fraudulentos.

Código Sec.6676 Multas:  Sanciones impuestas contra los contribuyentes y otras personas que presenten reclamos de reembolso de impuestos o tomen créditos fiscales sin base en la realidad, la verdad o los hechos. Las deducciones y créditos no confirmados en una declaración de impuestos comúnmente dan lugar a la Sección del Codigo.6676 penalizaciones. Presentar une declaración de impuestos con el IRS con una solicitud de reembolso falso constituye una declaración falsa bajo pena de perjurio.

Código Sec. 6697-6699 Multas: Sanciones por no presentar varios tipos de declaraciones de impuestos que deben presentarse. Por ejemplo, no presentar el Formulario 1040, el Formulario 1120, el Formulario 1120s o el Formulario 1165 puede ser la base para que el IRS evalué la falta de penalización. Las entidades de paso, como sociedades y Corporaciones-S, aun deben presentar declaraciones de impuestos de la entidad, aunque los impuestos federales se paguen a nivel de titularidad individual en lugar de a nivel de entidad.

 

Código Sec. 6712 Multas: Sanciones aplicadas contra los contribuyentes que no divulgan las posiciones fiscales basadas en tratados. Los inmigrantes, los expatriados y los extranjeros son especialmente susceptibles de incurrir en sanciones por la posición de un tratado tributario defectuoso a menos que contraten a consultores fiscales calificados en preparación de sus declaraciones de impuestos anuales.

Código Sec. 6662 Multas: Las sanciones impuestas a los contribuyentes que no informan ingresos de fuentes extranjeras, como cuentas bancarias, en el extranjero, empresas extranjeras y tenencias de activos extranjeros pueden incurrir en multas muy severas. Los ciudadanos de los Estados Unidos, los extranjeros y ciertos extranjeros no residentes deben informar los ingresos mundiales de todas las fuentes, incluidas cuentas bancarias extranjeras, empresas extranjeras, fideicomisos extranjeros y otros activos extranjeros. Además, los contribuyentes con tenencias extranjeras cuyo valor agregado exceda los $10,000 en cualquier año calendario deben presentar electrónicamente el Formulario 114, Informe de cuentas bancarias y financieras extranjeras (FBAR) con la Red de Delitos Financieros (FinCen’s BSA E-Filing System). La falta de información sobre la existencia de propiedades en el extranjero está sujeto a sanciones civiles y penales. Se prevé que este conjunto de sanciones y el enjuiciamiento penal potencial irán en aumento en el futuro cercano porque el IRS ha anunciado que finalizara el Programa de Divulgación Voluntaria de 2014 el 20 de Septiembre de 2018.

Otro conjunto especial de normas fiscales ha estado en vigor desde hace tiempo para perdonar las sanciones fiscales debido a una causa razonable y buena fe. La causa razonable esta en el Código Sec. 6664. El IRS no impondrá penalidades relacionadas con la exactitud cuando el contribuyente demuestre que hubo una causa razonable para la posición fiscal y que actuaron de buena fe con respecto a la posición o acto fiscal en cuestión. La defensa de causa razonable bajo el Código Sec. 6664 enciende todos los hechos y circunstancias. Eso simplemente significa que el  IRS y las cortes tratan de determinar “por que” el contribuyente no cumplió con las leyes fiscales federales. El conocimiento sustancial de un contribuyente de la ley tributaria federal es un factor importante que el IRS y los Tribunales consideran al determinar si un contribuyente actuó de buena fe y de manera razonable. Los inmigrantes o aquellos que recientemente inmigraron a los Estados Unidos a menudo carecen de la sofisticación y el conocimiento de las leyes impositivas de Estados Unidos. La complejidad de las leyes tributarias estadounidenses a menudo confunde a los estadounidenses bien educados también. Varios tribunales han encontrado la confianza de los contribuyentes en las sugerencias, recomendaciones y guías de los preparadores de declaraciones de impuestos para cumplir con la carga de los contribuyentes y demostrar que actuaron de manera razonable y con buena fe. Los contribuyentes que ejercen el cuidado y la diligencia de negocios ordinarios a veces también son encontrados por el IRS y los tribunales como actuando de buena fe y razonablemente. Estos diversos ejemplos simplemente muestran que el IRS puede reducir, perdonar o exonerar a las multas fiscales federales en un amplio espectro de situaciones. Los contribuyentes confrontados con situaciones de penalidad impositiva del IRS deben actuar de manera razonable y ser prudentes al explorar con su abogado fiscal el potencial de que las penas se puedan reducir, perdonar o anular. Incluso las penas de fraude se pueden renunciar en determinadas circunstancias y también se pueden evitar cargos criminales.

 

Este blog de derecho está escrito por  La Firma de Abogados de Impuestos | Litigación  | Inmigración de Coleman Jackson, P.C. con fines educativos; Esto no crea relación de abogado-cliente entre esta firma de abogados y el lector. Usted debe consultar con un asesor legal en su área geográfica con respecto a todas las cuestiones legales que lo afectan a usted, su familia o negocio.

Coleman Jackson, P.C. | Firma de Abogados de Impuestos, Litigación e Inmigración |Ingles (214) 599-0431 | Español (214) 599-0432

REASONABLE CAUSE AND GOOD FAITH – IRS Penalties Can Be Abated, Forgiven or Waived

By Coleman Jackson, Attorney & Certified Public Accountant
June 21, 2018

IRS Penalties Can Be Abated, Forgiven or Waived

The Internal Revenue Code is full of various kinds of penalties that the Internal Revenue Service is authorized to assess and collect from errant, indifferent, negligent, ambivalent, and indecisive or otherwise noncompliant taxpayers who fail to collect or pay their tax bill or attempt to evade the federal tax laws.  Six IRS penalties that seem to be common in recent years are as follows:

Code Sec. 6672 Penalties:  penalties assessed when taxpayers fail to timely collect, turn over withholding taxes or avoid timely payment of tax obligations;

Code Sec. 6701 Penalties:  penalties assessed against tax return preparers, such as enrolled agents, certified public accountants or others working in the tax return preparation services industry who aids and abet taxpayers in filing false or fraudulent tax returns;

Code Sec. 6676 Penalties:  penalties assessed against taxpayers and others who file tax refund claims or take tax credits without basis in reality, truth or facts.  Unsubstantiated deductions and credits on a tax return commonly give rise to Code Sec. 6676 penalties.   Filing a tax return with the IRS with a false refund request constitutes a false statement under the penalty of perjury.

IRS Penalties

Code Sec. 6697-6699 Penalties:  penalties for failure to file various types of tax returns that should be filed.  Such as failure to file a Form 1040, Form 1120, Form 1120S or Form 1165 can all be the basis for the IRS to assess a failure to file penalty.  Pass through entities, such as, partnerships and s-corporations must still file entity tax returns even though federal taxes are paid at the individual ownership level rather than the entity level.

Code Sec. 6712 Penalties:  penalties assessed against taxpayers who fail to disclose treaty based tax positions.  Immigrants, expatriates and foreigners are especially susceptible to incurring faulty tax treaty position penalties unless they hire well qualified tax consultants in preparation of their annual tax returns.

Code Sec 6662 Penalties:  penalties assessed against taxpayers who fail to report income from foreign sources, such as, foreign bank accounts, foreign businesses, and foreign asset holdings can incur very severe penalties.  U.S. citizens, resident aliens and certain nonresident aliens must report worldwide income from all sources including foreign bank accounts, foreign businesses, foreign trusts and other foreign assets.  Moreover, taxpayers with foreign holdings whose aggregate value exceeds $10,000 at any point during the calendar year must file Form 114, Report of Foreign Bank and Financial Accounts (FBAR) electronically with the Financial Crimes Network (FinCen’s BSA E-Filing System).  Failure to report the existence of offshore holdings is subject to civil and criminal penalties.  It is anticipated that this set of penalties and potential criminal prosecution will be on the rise in the near future because the IRS has announced that it will end the 2014 Voluntary Disclosure Program on September 28, 2018.

REASONABLE CAUSE AND GOOD FAITH

Another special set of tax rules have long been in force to forgive tax penalties due to reasonable cause and good faith.  The reasonable cause relief is set out in Code Sec. 6664.  The IRS will not impose accuracy related penalties upon a showing by the taxpayer that there was reasonable cause for the tax position and that they acted in good faith with respect to the tax position or act in question.  The reasonable cause defense under Code Sec. 6664 turns on all the facts and circumstances.  That simply means that the IRS and Courts try to determine ‘why’ the taxpayer failed to comply with the federal tax laws.  A taxpayer’s substantial knowledge of federal tax law is a significant factor that the IRS and Courts consider in determining whether a taxpayer acted in good faith and reasonable.  Immigrants or those recently immigrating to the U.S. often lack the sophistication and knowledge of U.S. tax laws.  U.S. tax laws complexity often confounds well educated Americans as well.  Taxpayers reliance on tax return preparers’ suggestions, recommendations and guidance also have been found by many Courts to meet the taxpayers burden to show that they acted reasonable and with good faith.  Taxpayers exercising ordinary business care and diligence sometimes likewise are found by the IRS and Courts as acting in good faith and reasonably.  These various examples simply show that the IRS can abate, forgive or waive federal tax penalties in a very broad spectrum of situations.  Taxpayers confronted with IRS tax penalty situations must act reasonable and be prudent in exploring with their tax attorney the potential that the penalties can be abated, forgiven or waived.  Even fraud penalties can be waived under certain circumstances and criminal charges may likewise be averted.

This law blog is written by the Taxation | Litigation | Immigration Law Firm of Coleman Jackson, P.C. for educational purposes; it does not create an attorney-client relationship between this law firm and its reader.  You should consult with legal counsel in your geographical area with respect to any legal issues impacting you, your family or business.

Coleman Jackson, P.C. | Taxation, Litigation, Immigration Law Firm | English (214) 599-0431 | Spanish (214) 599-0432

IRS REFUNDS LIKE DISCOUNT COUPONS CAN BE LOST

By:  Coleman Jackson, Attorney, CPA
May 11, 2018

IRS REFUNDS LIKE DISCOUNT COUPONS CAN BE LOST

Read discount coupons’ fine print.  IRS refunds like discount coupons can be lost for a variety of reasons.  That is why you need to read the fine print; so that, it is more likely than not, that you receive what you expected.  Read carefully the fine print of the Internal Revenue Code too.

Focus on the Internal Revenue Code.  26 United States Code exclusively set for the guidelines and requirements for federal tax refunds claims.  26 U.S.C. is commonly referred to as the Internal Revenue Code.  The Internal Revenue Code governs tax refund claims.  Taxpayer’s must focus on the fine print or legitimate refunds can be lost.  IRS refunds like discount coupons can be lost.  Under 26 U.S.C.S Section 7422(a), a taxpayer who seeks a refund must make a timely claim for refund.  This means that the taxpayer must file a timely tax return and do everything it can to attempt to collect the erroneously or illegally assessed or collected tax.  This includes seeking an appeals conference within the IRS.  The taxpayer must exhaust these administrative attempts before filing suit against the United States government in the appropriate federal District Court.

A tax refund claim encompasses a taxpayer’s attempt to obtain a credit, offset or return of any overpayments of taxes assessed or collected by the United States government under the Internal Revenue Code

Pay more attention to fine points.  A tax refund claim encompasses a taxpayer’s attempt to obtain a credit, offset or return of any over payments of taxes assessed or collected by the United States government under the Internal Revenue Code.  Refund claims must be filed within the statute of limitations which depends upon whether an original tax return was timely filed.  If a tax return was timely filed, a taxpayer must file a refund claim with the IRS within 3 years of the return due date or within two years of paying the tax.  The due date governs when the statute begins to run.  For example, if the return was due on April 15, 2018 and the taxpayer actually filed early; the actual due date of the return and not the early filing date would govern the start of the statute of limitations.  Likewise, for example, if the payment due date is June 30, 2018 and the taxpayer actually pays on May 15, 2018, the due date of the payment governs the start of the statute of limitations and not when the taxpayer actually paid the tax.   Filing early or paying early reverts back to their respective due dates.  The fallback statute of limitations is two years under the IRC if no return was required; see IRC Sec. 6511(a).  If a tax return was required and no return was filed within three years of its due date; the taxpayer is not entitled to a refund.  Normal filing extensions, insolvency and bankruptcy of the taxpayer and formal agreements with the Internal Revenue Service; such as, installment agreements has absolutely no affect on the ‘due date of the return’ for refund purposes. Pay attention to waivers, however, because taxpayers can waive (give up) their legal rights to recover IRS refunds.

Focus on IRS delays.  The IRS must be given the opportunity to return the erroneously assessed or collected tax, penalty or interest

Focus on IRS delays.  The IRS must be given the opportunity to return the erroneously assessed or collected tax, penalty or interest.  If the IRS refuses to return the erroneously assessed or collected tax within six months of the taxpayer’s refund claim, the IRS is required to inform the taxpayer of its right to an appeals conference pursuant to Treasury Regulation 301.7430-1(e)(3)(iii).  If the government fails to give the taxpayer notice of the right to an appeal conference, the taxpayer can file suit six months after filing its tax refund claim because the presumption is that the taxpayer has exhausted its administrative remedies.  If the IRS gives the taxpayer the required ‘right to appeals conference notice’ but refuses to return the erroneously or illegally assessed or collected tax, penalty or interest after the appeals conference, the taxpayer can sue in federal court.  Note ; however, that no federal lawsuit can be filed against the tax collector, or IRS auditor, or IRS revenue officer because claims for return of erroneously assessed or collected taxes, penalties and interest are claims against the United States government—not claims against the government’s agents, auditors or collectors.  See Kaucky v. Southwest Airlines Co., 109 F. 3d 349 (7th Cir. 1997).  The U.S. government is the only party that the taxpayer can sue in tax refund recovery cases.  The taxpayer must file suit against the United States government for erroneously assessed taxes, penalties or interest within two years after exhaustion of administrative remedies pursuant to 26 U.S.C.S. Sections 7422(a) through 7422(f).    The tax refund lawsuit must be brought in federal court; taxpayer’s cannot sue the federal government in state court for tax refunds.  Tax refund cases can be brought in the Court of Federal Claims and federal District Court with jurisdiction over all parties.  Repeat!  Taxpayers must bring their refund suit within two years of exhausting their administrative remedies.  The federal suit can include claims for recovery of overpaid taxes, penalties and interest.  And when the IRS agents have acted in a manner that is arbitrary and capricious the taxpayer can also seek to recover its administrative cost which includes litigation costs and reasonable attorney fees.  Government agents act arbitrary and capricious whenever their actions have no basis in law or fact.

To summarize; IRS refunds like discount coupons can be lost if the taxpayer ignores the fine print.  Focus on the following summary:

  1. The Internal Revenue Code governs tax refunds relating to taxpayer’s attempts to recover allegedly erroneous assessment or collection of federal taxes, penalties and interest;
  1. Taxpayer’s must file a claim for refund with the Internal Revenue Service within the statutory time frame for filing such claim. The statute of limitation is typically 3 years from the due date of the tax return or 2 years from the payment due date when the tax is paid;
  1. The IRS is required to act lawfully and in a reasonable amount of time pursuant to the Internal Revenue Code and the IRS Practice Manual to resolve administratively tax refund claims;
  1. Taxpayer’s who exhaust their administrative remedy can sue the United States government in federal court to recover overpayments of taxes, penalties and interest from the U.S. government. If the IRS had no basis in law or fact to support its position in denying the taxpayer’s refund claims, the taxpayer can seek to recover administrative cost, including litigation costs and attorney fees pursuant to the 5th Amendment to the United States Constitution.  The pertinent part of the 5th Amendment reads that no one shall be deprived by the federal government of life, liberty or property without due process of law.   The U.S. Constitution sits atop all statutes and other laws both federal laws and state laws; including the Internal Revenue Code.  The term “Rule of Law” simply means that the country is ruled by laws and not the dictates of men.  The federal government cannot constitutionally take anyone’s ‘life, liberty and property’ without due process of law.

This law blog is written by the Taxation | Litigation | Immigration Law Firm of Coleman Jackson, P.C. for educational purposes; it does not create an attorney-client relationship between this law firm and its reader.  You should consult with legal counsel in your geographical area with respect to any legal issues impacting you, your family or business.

Coleman Jackson, P.C. | Taxation, Litigation, Immigration Law Firm | English (214) 599-0431 | Spanish (214) 599-0432

IRS Terminara el Programa de Divulgación Voluntaria Offshore de 2014 en Septiembre 28,2018

Por: Coleman Jackson, Abogado, CPA
abril 20, 2018

IRS Terminara el Programa de Divulgación Voluntaria Offshore de 2014 en Septiembre 28,2018

Escuchó la nueva noticia? El Lunes Marzo 13,2018 el IRS anuncio que terminara el Programa de Divulgación Voluntaria Offshore en Septiembre 28,2018.

Es probable que ya es muy tarde para las personas que tomaron sus oportunidades y no han tomado los pasos para entrar en el Programa de Divulgación Voluntaria Offshore (OVDP, por sus iniciales en ingles). Practicantes por todo el país han encontrado retrasos extremos en lograr que los contribuyentes estén previamente autorizados en el OVDP 2014 por meses . Solicitudes de pre-autorización están tomando más de 6 meses estos días. Los representantes del  IRS han declarado que la unidad de pre-autorización del IRS tiene retrasos en el registro de incluso nuevas solicitudes de pre-autorización de OVDP. La unidad tiene por lo menos 9 a 10 meses de atrasos en solicitudes….por lo que nos dicen.

Contribuyentes que no han tomado ventaja del 2014 OVPD tienen que actuar rápidamente. Repito, es posible que ya sea muy tarde para actuar. El Tesoro de U.S.A. ha recibido información directa o indirecta de instituciones financieras extranjeras con respecto a personas de Estados Unidos con cuentas bancarias extranjeras desde hace aproximadamente dos años.  Ellos probablemente saben que personas de Estados Unidos tienen cuentes de banco extranjeras. La posibilidad de ser detectada con respecto a cuentas extranjeras bancarias es increíblemente alta.  De hecho, podría ser imposible esconderse de la detección; y, el posible enjuiciamiento federal de violaciones podría aumentar.

Los infractores de las reglas de FBAR al no informar puntualmente las cuentas bancarias extranjeras están sujetos a las multas civiles y al enjuiciamiento penal. Cuentas Bancarias Extranjeras son reportadas anualmente en Abril 15, llenando el Formulario 114 con el Financial Crimes Network. FBARs delincuentes ponen al contribuyente en peligro legal. También puede haber problemas con impuestos federales si el contribuyente ha declarado menos ingresos o declaraciones de impuestos federales sin presentar.  Fraudes de impuestos y FBARs delincuentes son crímenes serios que pueden resultar en años en prisión federal sobre convicción.

Este blog de derecho está escrito por  La Firma de Abogados de Impuestos | Litigación  | Inmigración de Coleman Jackson, P.C. con fines educativos; Esto no crea relación de abogado-cliente entre esta firma de abogados y el lector. Usted debe consultar con un asesor legal en su área geográfica con respecto a todas las cuestiones legales que lo afectan a usted, su familia o negocio.

Coleman Jackson, P.C. | Firma de Abogados de Impuestos, Litigación e Inmigración |Ingles (214) 599-0431 | Español (214) 599-0432

O IRS finalizará o Programa de Divulgação Voluntária no exterior de 2014 em 28 de setembro de 2018

Por:  Coleman Jackson, Advogado, CPA
10 de abril de 2018

O IRS finalizará o Programa de Divulgação Voluntária no exterior de 2014 em 28 de setembro de 2018

Voce ouviu as notícias! Na segunda-feira, 13 de março de 2018, o IRS anunciou que encerrará o Programa de Divulgação Voluntária no exterior em 28 de setembro de 2018.

É provável que já seja tarde demais para todas aquelas pessoas que estão se arriscando e ainda não deram passos para entrar no OVDP. Profissionais de todo o país tem sofrido meses de atraso para conseguir que os contribuintes sejam pré-liberados para o OVDP de 2014. Os pedidos de pré-liberação estão demorando mais de 6 meses nos dias de hoje. Os representantes do IRS afirmaram que a unidade de processamento de pré- liberação do IRS tem longos atrasos na contabilização de pedidos de pré- liberação do OVDP. A unidade tem cerca de 9 a 12 meses de acumulo em pedidos de pré-liberação … assim nos foi dito.

Os contribuintes que não aproveitaram o OVDP de 2014 devem agir rapidamente

Os contribuintes que não aproveitaram o OVDP de 2014 devem agir rapidamente. Repito, é possível que agora seja tarde demais para agir. O U.S. Treasury tem recebido, há cerca de dois anos, direta ou indiretamente, informações de instituições financeiras estrangeiras sobre pessoas nos EUA com contas bancárias no exterior. Eles provavelmente já sabem quais pessoas a possuem. As chances destas pessoas serem detectadas com participações em bancos estrangeiros podem ser extremamente altas. Na verdade, pode ser impossível se esconder da detecção; e, possivelmente aumentar o número de acusações federais aos infratores.

Os infratores das regras da FBAR, ao não relatar a tempo as contas bancárias no exterior, estão sujeitos a processos civis e processos criminais. Contas bancárias estrangeiras são relatadas anualmente em 15 de abril, preenchendo o formulário 114 com a Rede de Crimes Financeiros. FBARs delinquentes colocam os contribuintes em risco legal. Também pode haver questões de imposto de renda federal envolvidas se o contribuinte tiver subestimado sua renda ou declarações de impostos federais não preenchidas. Fraudes fiscais e FBARs delinqüentes são crimes graves que podem resultar em anos de condenação de infratores em presídios federais.

Este blog de advocacia é escrito pelo Tributação | Litígio | Escritorio de Lei de Imigração da Coleman Jackson, P.C. somente para fins educativos; não criando uma relação advogado-cliente entre este escritório de advocacia e seu leitor. Você deve consultar o departamento jurídico em sua área geográfica com relação a quaisquer questões legais que afetem você, sua família ou sua empresa.

Coleman Jackson, P.C. | Tributação | Litígio | Escritorio de Lei de Imigração | Inglês(214) 599-0431 | Espanhol (214) 599-0432

IRS to End the 2014 Offshore Voluntary Disclosure Program on September 28, 2018

By:  Coleman Jackson, Attorney, CPA
March 27, 2018

IRS to End the 2014 Offshore Voluntary Disclosure Program - OVDP on September 28, 2018

Have you heard the news!  On Monday, March 13, 2018 the IRS announced that it will end the Offshore Voluntary Disclosure Program on September 28, 2018.

It is likely already too late for all those people who are taking their chances and have not already made steps to enter the OVDP.  Practitioners from all over the country have experienced extreme delays in getting taxpayers pre-cleared into the 2014 OVDP for months.  Pre-clearance requests are taking more than 6 months these days.  IRS representatives have stated that the preclearance processing unit of the IRS has long backlogs in even logging in new OVDP preclearance requests.  The unit has about a 9 to 12 month back log in pre-clearance requests… so we have been told.

Taxpayers who have not taken advantage of the 2014 OVDP must act quickly.

Taxpayers who have not taken advantage of the 2014 OVDP must act quickly.  Repeat it is possible that it is now too late to act.  The U.S. Treasury has been receiving directly or indirectly information from foreign financial institutions concerning U.S. persons with foreign bank accounts for about two years now.   They probably already know those U.S. persons who hold foreign bank accounts.  The chances of being detected with respect to foreign bank holdings are probably extremely high.  In fact it might be impossible to hide from detection; and, possible federal prosecution of violators could rise.

Violators of FBAR rules by failing to timely report offshore bank accounts are subject to civil fines and criminal prosecution.  Foreign Bank Accounts are reported annually on April 15th by filing Form 114 with the Financial Crimes Network.  Delinquent FBARs put taxpayers in legal jeopardy.  There may also be federal income tax issues involved also if the taxpayer has under-reported its income or unfiled federal tax returns.   Tax fraud and delinquent FBARs are serious crimes which can result in violators spending years in federal prison upon conviction.

This law blog is written by the Taxation | Litigation | Immigration Law Firm of Coleman Jackson, P.C. for educational purposes; it does not create an attorney-client relationship between this law firm and its reader.  You should consult with legal counsel in your geographical area with respect to any legal issues impacting you, your family or business.

Coleman Jackson, P.C. | Taxation, Litigation, Immigration Law Firm | English (214) 599-0431 | Spanish (214) 599-0432

La criptomoneda y el cumplimiento de las leyes fiscales federales de EE. UU. Están bajo escrutinio

Por: Coleman Jackson, Abogado, Contador Público Certificado
Febrero 15, 2018

La criptomoneda y el cumplimiento de las leyes fiscales federales de EE. UU. Están bajo escrutinio

La criptomoneda es una moneda virtual o valor digital que sirve como medio de intercambio, cantidad de riqueza o medida de cuenta o valor. La moneda virtual puede actuar como una moneda monetaria, pero no se considera moneda de curso legal en los Estados Unidos o en cualquier otro lugar del mundo. Los titulares de cambio de moneda virtual usan criptomonedas similares a la forma en que se intercambia y utiliza la moneda de curso legal; por ejemplo, puede cambiarse por dólares, intercambiarse por bienes y cambiarse por servicios; y el valor digital puede estar en una cuenta mantenida con fines de inversión. La criocurrencia ha estado en las noticias mucho últimamente debido a su volatilidad y los ojos de los reguladores de todo el mundo. Muchos países de todo el mundo han estado observando el espacio de moneda virtual para un posible mayor escrutinio y posiblemente una regulación intensa.

En los Estados Unidos, el Servicio de Rentas Internas emitió la Notificación del IRS 2014-21 como su orientación inicial con respecto a las transacciones en moneda virtual. En este Aviso, el Tesoro de EE. UU. Definió la criptomoneda como un producto básico y no como moneda de curso legal. ¡Se define como propiedad! En otras palabras; aunque la moneda digital se intercambia como dinero, no se trata como moneda de curso legal en la legislación fiscal de los EE. UU .; es tratado como una mercancía. La venta, la compra y el uso de moneda virtual tienen consecuencias impositivas reales en virtud de la legislación fiscal federal de EE. UU. Como mercancía, la moneda virtual es propiedad, y como tal, está sujeta a los principios generales de impuestos aplicables a las transacciones de propiedad. Eso significa que las ganancias y pérdidas realizadas en transacciones de moneda virtual están sujetas a las leyes federales de impuestos de EE. UU. Los titulares de moneda virtual pueden incurrir en pasivos tributarios en función de su tenencia, transferencia y uso de moneda virtual porque el Servicio de Rentas Internas utiliza principios fiscales generales aplicables a las transacciones de propiedad con respecto a las transacciones en moneda virtual como bitcoin.

Más y más en estos días a medida que el resplandor de los reguladores gubernamentales se intensifica en la moneda virtual; cuestiones de criptomoneda se han estado desarrollando en procedimientos judiciales en los Estados Unidos. Parece que los reguladores de todo el mundo han comenzado a tomar más en cuenta la moneda virtual. A fines de 2017, en un caso en el Tribunal de Distrito de los Estados Unidos para el Distrito Norte de California, el Tesoro de los Estados Unidos demandó a Coinbase, Inc. para obtener la información de sus clientes por citación durante varios años. El IRS en Coinbase estaba tratando de hacer cumplir una convocatoria del gobierno de conformidad con 26 U.S.C. Secciones 7402 (b) y 7604 (a). Hubo aproximadamente 10,000 clientes relacionados con la convocatoria de Coinbase. El gobierno buscó obtener los siguientes registros (en una citación abreviada: el IRS redujo o modificó la citación original presentada en Coinbase, Inc.) de acuerdo con los documentos judiciales:

  1. Registros de registro de cuenta / billetera / bóveda para cada cuenta / billetera / bóveda propiedad o controladas por el usuario durante el período indicado anteriormente limitado a nombre, dirección, número de identificación fiscal, fecha de nacimiento, registros de apertura de cuenta, copias del pasaporte o del conductor licencia, todas las direcciones de billetera y todas las claves públicas para todas las cuentas / billeteras / bóvedas.
  2. Registros de diligencia Know-Your-Customer.
  3. Acuerdos o instrucciones que conceden a un tercero acceso, control o autoridad de aprobación de transacción.
  4. Todos los registros de actividad de cuenta / billetera / bóveda incluyendo registros de transacciones u otros registros identificando la fecha, cantidad y tipo de transacción (compra / venta / intercambio), el saldo posterior a la transacción, los nombres u otros identificadores de las contrapartes de la transacción ; solicitudes o instrucciones para enviar o recibir bitcoin; y, cuando las contrapartes tramitan a través de sus propias cuentas / billeteras / bóvedas de Coinbase, toda la información disponible que identifica a los usuarios de dichas cuentas y su información de contacto.
  5. Correspondencia entre Coinbase y el usuario o cualquier tercero con acceso a la cuenta / billetera / bóveda perteneciente a la apertura, cierre o transacción de la cuenta / billetera / bóveda.
  6. Todos los estados de cuentas o facturas periódicas (o equivalentes).

Estos seis elementos son texto actual del documento o solicitud de información solicitada por el IRS en Estados Unidos v. Coinbase, Inc. y otros, Case No. 17-cv-01431-JSC. El IRS argumentó que necesitaba conocer toda esta información con respecto a los clientes de Coinbase porque el IRS “está llevando a cabo una investigación para determinar la identidad y corregir el impuesto federal a la renta de las personas de los Estados Unidos que realizaron transacciones en una moneda virtual convertible … por los años finaliza el 31 de diciembre de 2013, 2014 y 2015. “Los abogados del IRS argumentaron que el “IRS cree que las ganancias de la moneda virtual no se informan.”

El Tribunal de Distrito en Coinbase simpatizaba con el “legítimo propósito del IRS de investigar la brecha de informes entre el número de usuarios de monedas virtuales que Coinbase afirma haber tenido durante el período de convocatoria y los usuarios de bitcoins estadounidenses que informaron ganancias o pérdidas al IRS durante los años convocados.” Por lo tanto, el juez ordenó a Coinbase que libere la identidad, el nombre, la fecha de nacimiento, la información de identificación del contribuyente y la dirección de los titulares de cuentas para determinar si un contribuyente informó adecuadamente de las ganancias y pérdidas de divisas digitales. Aunque el Tribunal no resolvió, en este caso particular, completamente a favor del IRS; parece claro que el Tribunal podría permitirle al IRS obtener información adicional tal como la información expuesta anteriormente en las Solicitudes 1 a 6 en resoluciones futuras en este caso, si pueden demostrar que los contribuyentes probablemente no cumplan con las leyes tributarias federales o otras leyes El cumplimiento tributario federal parece ser el único problema en este caso. ¿Los contribuyentes que negocian e invierten en criptomonedas cumplen con las leyes tributarias federales de EE. UU.? La criptomoneda y el cumplimiento de las leyes federales de impuestos de EE. UU. Están bajo escrutinio.

Este caso judicial demuestra que el IRS está examinando el cumplimiento de impuestos federales con respecto a las transacciones en moneda virtual. Las transacciones de criptomonedas están sujetas a los principios generales de impuestos a la propiedad según las leyes fiscales de EE. UU. Y las que realizan transacciones en moneda virtual convertible, como bitcoins, deben demostrar el cumplimiento de las leyes impositivas de EE. UU. Debido a convocatorias según 26 U.S.C. Las Secciones 7402 (b) y 7604 (a) son exigibles en los tribunales del distrito federal contra los intercambios de divisas virtuales, los inversores y los usuarios de criptomonedas.

Este blog de derecho está escrito por  La Firma de Abogados de Impuestos | Litigación  | Inmigración de Coleman Jackson, P.C. con fines educativos; Esto no crea relación de abogado-cliente entre esta firma de abogados y el lector. Usted debe consultar con un asesor legal en su área geográfica con respecto a todas las cuestiones legales que lo afectan a usted, su familia o negocio.

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Cryptocurrency and Compliance with U.S. Federal Tax Laws Are Under Scrutiny

By:  Coleman Jackson, Attorney, Certified Public Accountant
February 08, 2018 Cryptocurrency and Compliance with U.S. Federal Tax Laws

Cryptocurrency is a virtual currency or digital value that serves as a medium of exchange, amount of wealth or measure of account or value.  Virtual currency may act like a monetary currency, but it is not considered legal tender in the United States or anywhere else in the world.  Holders of virtual currency exchange and use cryptocurrency similar to the way legal tender is exchanged and used; for example, it can be exchanged for dollars, exchanged for goods and exchanged for services; and digital value can be in an account held for investment purposes.  Crytocurrency has been in the news a lot lately because of its volatility and the eyes of regulators around the world.  Many countries around the world have been eyeing the virtual currency space for possible more scrutiny and possibly intense regulation.

In the United States the Internal Revenue Service issued IRS Notice 2014-21 as its early guidance regarding transactions in virtual currency.  In this Notice, the U.S. Treasury defined cryptocurrency as a commodity and not as legal tender.  It is defined as property!  In other words; although digital currency is exchanged like money it is not treated like legal tender in U.S. tax law; it is treated as a commodity.  The sale, purchase, and use of virtual currency have real tax consequences under U.S. federal tax law.  As a commodity, virtual currency is property, and as such, it is subject to the general tax principles applicable to property transactions.  That means that gains and losses realized in virtual currency transactions are subject to U.S. federal tax laws.  Virtual currency holders may incur tax liabilities based on their holding, transferring, and using virtual currency because the Internal Revenue Service utilizes general tax principles applicable to property transactions with respect to transactions in virtual currency such as bitcoin.

The sale, purchase, and use of virtual currency have real tax consequences under U.S. federal tax law

More-and-More these days as governmental regulators’ glare intensifies on virtual currency; cryptocurrency issues have been playing out in court proceedings in the United States.  It appears that regulators around the world have begun taking more notice of virtual currency.  In late 2017, in a case in the United States District Court for the Northern District of California, the United States Treasury sued Coinbase, Inc. to obtain its customers’ information by summon for several years.  The IRS in Coinbase was attempting to enforce a government summons pursuant to 26 U.S.C. Sections 7402(b) and 7604(a).  There were approximately 10,000 customers related to the Coinbase summon.   The government sought to obtain the following records (on a shortened summons; the IRS reduced or modified the original summons served on Coinbase, Inc.) according to Court documents:

  1. Account/wallet/vault registration records for each account/wallet/vault owned or controlled by the user during the period stated above limited to name, address, tax identification number, date of birth, account opening records, copies of passport or driver’s license, all wallet addresses, and all public keys for all accounts/wallets/vaults. 
  1. Records of Know-Your-Customer diligence.
  1. Agreements or instructions granting a third-party access, control, or transaction approval authority. 
  1. All records of account/wallet/vault activity including transaction logs or other records identifying the date, amount, and type of transaction (purchase/sale/exchange), the post transaction balance, the names or other identifiers of counterparties to the transaction; requests or instructions to send or receive bitcoin; and, where counterparties transact through their own Coinbase accounts/wallets/vaults, all available information identifying the users of such accounts and their contact information. 
  1. Correspondence between Coinbase and the user or any third party with access to the account/wallet/vault pertaining to the account/wallet/vault opening, closing, or transaction activity. 
  1. All periodic statements of account or invoices (or equivalent).

These six items are verbatim text of the document or information request sought by the IRS in United States v Coinbase, Inc. et al,, Case No. 17-cv-01431-JSC.  The IRS argued that it needed to know all this information with respect to Coinbase’s customers because the IRS “is conducting an investigation to determine the identity and correct federal income tax liability of United States persons who conducted transactions in a convertible virtual currency … for the years ending December 31, 2013, 2014 and 2015.”  The IRS lawyers argued that the “IRS believes that virtual currency gains are underreported.”

The District Court in Coinbase was sympathetic to the IRS’ “legitimate purpose of investigating the reporting gap between the number of virtual currency users Coinbase claims to have had during the summons period and U.S. bitcoin users reporting gains or losses to the IRS during the summoned years.”  The Judge therefore ordered Coinbase to release the account holders identity, name, date of birth, taxpayer identification information and address to determine whether a taxpayer properly reported digital currency gains and losses.  Although the Court did not, in this particular case, rule completely in the IRS’s favor, yet; it appears clear that the Court could allow the IRS to obtain additional information such as, the information set forth above in Requests 1 through 6 in future rulings in this case, if they are able to show taxpayers are likely not complying with federal tax laws or other laws.  Federal tax compliance appears to be the only issue in this case.   Are taxpayers dealing and investing in cryptocurrency complying with U.S. federal tax laws?   Cryptocurrency and compliance with U.S. federal tax laws are under scrutiny.

IRS is examining federal tax compliance with respect to transactions in virtual currency

This Court case demonstrates that the IRS is examining federal tax compliance with respect to transactions in virtual currency.  Cryptocurrency transactions are subject to general property tax principles under U.S. tax laws and those who transact in convertible virtual currency, like bitcoin, must demonstrate compliance with U.S. tax laws because summons pursuant to 26 U.S.C. Sections 7402(b) and 7604(a) are enforceable in federal district courts against virtual currency exchanges, investors and users of cryptocurrency.

This law blog is written by the Taxation | Litigation | Immigration Law Firm of Coleman Jackson, P.C. for educational purposes; it does not create an attorney-client relationship between this law firm and its reader.  You should consult with legal counsel in your geographical area with respect to any legal issues impacting you, your family or business.

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